It is amazing how many foreclosures and short sales are on the market today, giving buyers lots to ponder when it comes
time to shop for a property. Why don't sellers of foreclosures and short sales, regardless of their situation, seemingly
compete for offers any longer?
It seems that most of the foreclosures & short sales on the market in San Diego County are a mess. It has gotten to the point
of embarrassment when showing property today. This applies to all price points when it comes to short sales and foreclosures
in San Diego.
Recently, I was showing buyers a bank owned property in Encinitas that was listed for $975,000. It was a bloody mess!
When I got into the real estate business in '94, there were plenty of foreclosures and short sales. The difference was condition.
When we bought our first foreclosure in San Marcos, the bank had replaced the carpet, installed new window coverings and freshly
painted the property before it was ever put on the market. That home was ready for an offer.
Many times today, the banks don't do anything to respect potential home buyers. The homes are left looking dirty, raped and pillaged.
The same goes for many short sales. Regardless if the seller is selling due to distress, or trying to get the highest price for their property,
in respecting the buyer with a clean, well kept property, they in turn will sell their property quicker at market value.
And lastly sellers...when you respect a buyer with a clean, well presented property, buyers will respect you in kind with an offer.
There are a lot of buyers out there looking for their next home. It just maybe yours.
There are a lot of messes out there. There are $5000-$10000 repairs that would probably bring them $25K more but they leave them a mess. Great for a buyer who can fix it up and add equity.